Understanding the Universal Baseline Tariff

In a history-making day of tariffs, President Trump imposed charges of at least 10 percent on nearly all of America’s trading partners.

Ana Swanson, who covers trade for The Times, discusses who will be affected most and looks at how the levies effectively ended one era of global trade and began a new one.

Guest: Ana Swanson, who covers trade and international economics for The New York Times.

Background reading: 

• The tariffs are likely to ripple through the global economy, driving up prices for American consumers and manufacturers while inciting retaliation from other nations.
• Mr. Trump says global trade is unfair. Does he have a point?
• Read about how the tariff rates are calculated.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

Photo: Doug Mills/The New York Times

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